Alt\u0131n (XAU\/USD), \u00e7ar\u015famba g\u00fcn\u00fc Asya i\u015flemlerinin erken saatlerinde 4.480 dolar civar\u0131na gerileyerek 30 Mart\u2019tan bu yana en d\u00fc\u015f\u00fck seviyesini g\u00f6rd\u00fc. Kal\u0131c\u0131 enflasyon endi\u015feleri, faiz art\u0131\u015f\u0131 beklentilerini ve ABD Hazine tahvili getirilerini y\u00fcksek tutuyor.<\/p>\n
ABD 30 y\u0131ll\u0131k tahvil getirisi sal\u0131 g\u00fcn\u00fc 7 baz puana (faizde y\u00fczde 0,07 puan) kadar y\u00fckselerek %5,20\u2019ye \u00e7\u0131kt\u0131. Bu seviye, 2007 k\u00fcresel finans krizinden hemen \u00f6nce g\u00f6r\u00fclen d\u00fczeylere yak\u0131n. ABD 10 y\u0131ll\u0131k tahvil getirisi de 10 baz puana kadar artarak %4,69\u2019a y\u00fckseldi; bu, 2025 ba\u015f\u0131ndan bu yana en y\u00fcksek seviye. Ard\u0131ndan yakla\u015f\u0131k %4,66\u2019ya geriledi.<\/p>\n
H\u00fcrm\u00fcz Bo\u011faz\u0131\u2019n\u0131n yeniden a\u00e7\u0131lmas\u0131na ili\u015fkin belirsizlik, enflasyon kayg\u0131lar\u0131n\u0131 art\u0131rmay\u0131 ve k\u00fcresel para politikas\u0131n\u0131n (merkez bankalar\u0131n\u0131n faiz ve likidite kararlar\u0131) daha s\u0131k\u0131 kalaca\u011f\u0131 beklentisini desteklemeyi s\u00fcrd\u00fcr\u00fcyor. Bloomberg\u2019in haberine g\u00f6re Ba\u015fkan Donald Trump, sava\u015f\u0131 bitirecek bir anla\u015fma sa\u011flama \u00e7abalar\u0131 kapsam\u0131nda, daha \u00f6nce bir ABD sald\u0131r\u0131s\u0131n\u0131n durduruldu\u011funu s\u00f6ylemesinin ard\u0131ndan, \u00f6n\u00fcm\u00fczdeki g\u00fcnlerde \u0130ran\u2019a y\u00f6nelik sald\u0131r\u0131lar\u0131n yeniden ba\u015flayabilece\u011fi tehdidinde bulundu.<\/p>\n
D\u00fcnya Alt\u0131n Konseyi\u2019ne g\u00f6re merkez bankalar\u0131 alt\u0131n\u0131n en b\u00fcy\u00fck sahipleri ve 2022\u2019de yakla\u015f\u0131k 70 milyar dolar de\u011ferinde 1.136 ton alt\u0131n ekledi. Alt\u0131n fiyat\u0131 \u00e7o\u011fu zaman ABD Dolar\u0131 ve ABD Hazine tahvilleriyle ters y\u00f6nde hareket eder; jeopolitik gerginlikte y\u00fckselebilir, bor\u00e7lanma maliyeti artt\u0131\u011f\u0131nda ise d\u00fc\u015febilir. (Getiri: Tahvilin yat\u0131r\u0131mc\u0131ya sa\u011flad\u0131\u011f\u0131 faiz\/kazan\u00e7 oran\u0131. Bor\u00e7lanma maliyeti: Faizlerin y\u00fckselmesiyle para bulman\u0131n pahal\u0131la\u015fmas\u0131.)<\/p>\n
4.480 dolar civar\u0131ndaki alt\u0131n \u00fczerindeki a\u015fa\u011f\u0131 y\u00f6nl\u00fc bask\u0131n\u0131n ana nedeni, tahvil getirilerindeki h\u0131zl\u0131 y\u00fckseli\u015f. 10 y\u0131ll\u0131k getirinin 2025 ba\u015f\u0131ndan beri g\u00f6r\u00fclmeyen seviyelere \u00e7\u0131kmas\u0131, faiz getirisi olmayan bir varl\u0131k olan alt\u0131n\u0131 elde tutmay\u0131 giderek daha pahal\u0131 hale getiriyor. (Faiz getirisi olmayan varl\u0131k: Kupon\/faiz \u00f6demeyen, getirisi sadece fiyat art\u0131\u015f\u0131na ba\u011fl\u0131 olan varl\u0131k.) Bu durum, Nisan 2026 ABD T\u00dcFE verisinin (T\u00dcFE: t\u00fcketici fiyat endeksi, enflasyonun temel g\u00f6stergesi) %4,9 ile y\u00fcksek kalmas\u0131na ra\u011fmen g\u00f6r\u00fcl\u00fcyor; bu da piyasada y\u00f6n a\u00e7\u0131s\u0131ndan belirsizlik yarat\u0131yor.<\/p>\n
H\u00fcrm\u00fcz Bo\u011faz\u0131\u2019ndaki durum, belirsizli\u011fi ve riskleri art\u0131r\u0131yor. B\u00f6lgeye y\u00f6nelik gemi sigortas\u0131 primlerinin son bir haftada %30\u2019dan fazla artt\u0131\u011f\u0131 bildiriliyor; bu, piyasan\u0131n arz kesintisi ve enflasyonun daha da y\u00fckselmesi riskini ciddiye ald\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Artan jeopolitik gerilim, fiyat dalgalanmas\u0131ndan kazan\u00e7 hedefleyen yakla\u015f\u0131mlar\u0131 \u00f6ne \u00e7\u0131kar\u0131yor. (Dalgalanma\/volatilite: Fiyat\u0131n k\u0131sa s\u00fcrede sert ini\u015f-\u00e7\u0131k\u0131\u015f yapmas\u0131.)<\/p>\n
Daha uzun vadede, 2022 ve 2023\u2019teki sert faiz art\u0131\u015flar\u0131nda alt\u0131n\u0131n \u00f6nce gerileyip, ard\u0131ndan y\u00fcksek enflasyona kar\u015f\u0131 korunma arac\u0131 olarak yeniden g\u00fc\u00e7lendi\u011fi hat\u0131rlan\u0131yor. Merkez bankalar\u0131 al\u0131c\u0131 olmaya devam ediyor; son veriler, geli\u015fmekte olan \u00fclkelerin 2026\u2019n\u0131n ilk \u00e7eyre\u011finde rezervlerine 60 ton daha ekledi\u011fini g\u00f6steriyor. Bu nedenle, getiriler dengelenince olas\u0131 bir toparlanmaya kar\u015f\u0131 daha uzun vadeli pozisyonlar \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n
Canl\u0131 VT Markets hesab\u0131n\u0131z\u0131 a\u00e7\u0131n<\/a>\u00a0ve\u00a0i\u015fleme ba\u015flay\u0131n<\/a>\u00a0. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" Alt\u0131nda sert d\u00fczeltme: XAU\/USD 4.480 dolara inerek 30 Mart\u2019tan beri dip g\u00f6rd\u00fc. ABD tahvil getirileri 2007 zirvelerine yakla\u015ft\u0131; enflasyon, H\u00fcrm\u00fcz belirsizli\u011fi bask\u0131y\u0131 art\u0131r\u0131yor, merkez bankas\u0131 al\u0131mlar\u0131 destek.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-47045","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/47045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=47045"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/47045\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=47045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=47045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=47045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}